Agritech platform with a full stack DeHaat has successfully concluded a Rs 10 crore ($1.2 million) employee stock ownership plan (ESOP) buyback program. For the Patna and Gurugram-based business, this is the first ESOP buyback in history.
“During the buyback, 153 team members from senior vice president to field teams were given the chance to create wealth,” said Rishu Garg, head of DeHaat’s people department.
Over 200 people have received ESOPs from DeHaat worth more than Rs 100 crore ($12 million) to date.
DeHaat is an online marketplace for farmers that provides high-quality farming inputs, loans, market connections, and advice for growing and selling their produce.
Recently, the company brought in the veteran of the agribusiness Dr. K V Subbarao as its first Independent Advisor and signed Bollywood actor Pankaj Tripathi as a brand endorser.
From Rs 1,274 crore in FY22 to Rs 1,965 crore in FY23, DeHaat’s gross revenue increased by 54.2%. According to the company, its operating revenue rose by 40% to Rs 2,700 crore in FY24, while losses decreased by 50%.
During FY25, the company wants to turn a profit for the entire year.
According to the media, Dehaat was valued at over $705 million and has raised about $230 million to date.
Leverage Edu, a study abroad platform, revealed its second ESOP buyback program last week. Urban Company, MyGate, Classplus, Meesho, The Sleep Company, XYXX, and Pocket FM also finished their ESOP buyback program during the current calendar year.
